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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (23406)	2/11/1999 3:47:00 PM
From: IQBAL LATIF	Read Replies (1) of 50167

Ike bhumbo..The 'revenge of the pits' as promised by Ike.. and the tale of 'little little' 'bhumbo'. Once again a home run and what a run and what prediction.. love it..ggggg IQBAL LATIF on Feb 11 1999 12:09AM EST Gary- Good Morning When I talk of my 'bhumbo' it comes like a rocket, when markets are down and world is falling and people think we are going down this is this is... forecasting at its cutting edge and Idea does take honor and pride and commitment to do it again again and again...........1228 was a false support the jury is still out but this is what I had to say about the 'bear trap'....we placed it and we got it right to the perfection and we announced it...on this thread only.. the best thing is it is nice to be a part of the trap...my next resistyance is 1255 and I expect it to be taken out like my BKX exploded from down below...746 to 790 in two sessions and my NDX tightest range break 1950 stay above 45 minutes go long.. this is market reading the closest you get to magic..gggg <<I will cover at 1208 and expect market to rebound similarly I will expect once 1236 is taken out and we have a full 45 minutes session above that an assault to 392 on SOX, but it is all inter related right now I will exactly do what market wants to do. I don't really stand in front of markets and try to be on the side of momentum, as late a last night the pits are not sharing the conventional wisdom of huge break in the market, they are speaking of a small 'bhumbo' move..>> <<I remain a very much in between a range player, my posts of yesterday morning and many a mornings would suggest that for me my 1228 1210 and 1236.6 resistance will hold and provide me with opportunity to trade within a tight range.. It is the fear and greed that run's this markets in a volatile session, I have been informed by my sources that market plans to catch and trip a lot of people in a lethal move. what I make of this is that pits are long on supports with generous stp losses..>> <<I see a good bounce in BKX from 746 support a positive and I would like that a close above 1950 on NDX will take us to 2000. on the other hand a break below 1211 on SPX takes us to 1188, so that range is pretty well defined I do see still a huge divergence in 50 days MA and 200 days MA on NDX and composite, but if this narrows down and 1920 on NDX is taken out I will looking to establish put spreads from below 1210.. that is selling a lower put and buying a higher put, at upper limits of market call and put strategy works at lower limit of my range it is put spread.. I would like to recommend long above 1236.30 and a short below 1218 on SPH for quick trade . >>

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